07-12-2011: LANXESS and South Korea’s tier-one automotive supplier, Hwaseung Corporation, have further strengthened their business partnership. Both companies have signed a long-term agreement under which LANXESS will supply Hwaseung with premium EPDM rubber. Financial details were not disclosed. Furthermore, both companies will deepen their research and development efforts on specialty rubber applications.
An agreement was signed at LANXESS’ “Rubber Day Korea” in Jeju by Guenther Weymans, Global Head of LANXESS’ Technical Rubber Products business unit, and Yoohwi Choi, Senior Vice President of Hwaseung Networks – a subsidiary of Hwaseung Corporation.
“This new agreement will further strengthen the already successful partnership between Hwaseung and LANXESS,” said Weymans. “It is also another milestone in the successful integration of the recently-acquired EPDM business.”